November 24, 2020
Most people have a 401K or other retirement plan, but it’s not as simple as contributing money and collecting it when you retire. There are a lot of decisions you can make about investments, loans, rollovers and more.
Read more and get additional financial resources: https://principalpreservationservices.com/ep-60-frequently-asked-questions-about-401ks/
What we discuss on this show:
2:09 - Should I accept 401K advice from my company?
3:37 - Should I take out a 401K loan?
5:45 - Are 401K rollovers a good idea?
7:25 – Should people consider target date funds?
9:36 – Should you invest enough to get match or more?
11:46 – Should you use a Roth option?
15:02 – Mailbag: Is $250,000 enough for long-term care coverage?
16:53 – Mailbag: Should I move my investments to cash?
November 19, 2020
We’re talking specifically to Baby Boomers on this episode. What are the most common challenges, fears and goals of this generation? What are some of the mistakes Boomers often make and how can they be avoided?
Read more and get additional financial resources here: https://principalpreservationservices.com/ep-59-common-retirement-mistakes-and-concerns-of-baby-boomers/
What we discuss on this show:
3:00 – Challenges of Baby Boomers
4:30 – Have people failed to save enough without a pension?
5:56 – Baby Boomers’ fears
8:55 – What mistakes do Baby Boomers make?
13:01 – Mailbag: Can I use this money to buy a car or should I invest it?
14:23 – Mailbag: How reliable is my 401K estimated income statement?
November 12, 2020
On this episode, we share five commandments that should be written on stone tablets in your retirement plan.
Read more here: https://principalpreservationservices.com/ep-58-five-financial-commandments-to-follow/
What we discuss on this show:
4:13 – Mike talks about a place he never wants to visit again
7:43 – Thou shall not compare your investments to the stock market without the proper context
9:21 - Thou shalt not give up before giving your strategy enough time to play out.
10:59 – Thou shalt not chase big returns too late in life.
13:39 – Thou shalt not ignore costs and fees.
16:42 – Thou shalt not overlook the importance of rebalancing and diversifying.
19:46 – Mailbag: Can I get half of my ex-husband’s Social Security benefit
November 5, 2020
Let’s talk about estate planning, specifically wills and trusts. Find out what’s right for you, how much it costs and more.
Read more on the topic here: https://principalpreservationservices.com/ep-57-what-you-should-know-about-wills-and-trusts/
What we discuss on this show:
2:10 – Getting to know you question
5:39 – Why estate planning is so important
7:19 – Will or trust?
10:41 - You don’t need a lot of assets for a trust
14:14 – What does it cost to set up will vs. trust
16:40 - Financial adviser’s role
18:30 – Mailbag: Should I give my son this inheritance?
